Dexter and AL-KO VT Strategic Combination Transaction Completed
In October 2015, Dexter announced the intent to acquire AL-KO Vehicle Technology ("VT") from AL-KO Kober SE. We are pleased to announce that as of December 31, 2015, we successfully closed this transaction. As a result of combining Dexter and AL-KO VT, DexKo Global Inc. has been formed as the parent company. DexKo Global Inc. is majority owned by funds managed by The Sterling Group, Dexter’s current majority owners. The combined company will include AL-KO Kober SE as a significant shareholder.
Fred Bentley, a Dexter board member and former CEO of Maxion Wheels, has been named President and CEO of DexKo Global Inc. Adam Dexter will continue in his current responsibilities as President and CEO of US-based Dexter. Harald Hiller will continue his role of President of AL-KO VT. Kevin Garland, a Partner at The Sterling Group, will continue as Chairman of the Board. Stefan Kober, CEO of AL-KO Kober SE, assumes the role of Vice Chairman of the Board.
Dexter is a leading manufacturer of trailer axles, brakes and related components in North America serving the utility trailer, recreational vehicle, heavy duty, manufactured housing, agricultural, marine, and specialty trailer markets. Dexter is headquartered in Elkhart, Indiana and has nine manufacturing facilities in the U.S.
Headquartered in Kötz, Germany, AL-KO VT is the leading European designer and manufacturer of trailer axles, trailer and caravan components, chassis and motorized chassis. The company operates from 20+ locations around the world, including Europe, Australia, South Africa, China and South America.
"I am excited by the opportunity to lead and bring together two world class organizations," stated Fred Bentley, President and CEO of DexKo Global Inc. "We will focus on continuing to lead with great technology and customer service and to expand our market leadership positions. It is truly an exciting time for this new organization and we will use our collective strengths for the benefit of all of our customers, employees, suppliers and stakeholders."
"Dexter prides itself on providing unparalleled quality, innovation and the highest levels of customer service," said Adam Dexter, President and CEO of Dexter. "The addition of AL-KO VT and formation of DexKo Global Inc. will enhance Dexter’s resources and ability to introduce new technologies and products to better serve our loyal customer base."
The combination of Dexter and AL-KO VT will result in a global leader in trailer axle and chassis supply with sales approaching nearly $1 billion. The Dexter and AL-KO VT brands will continue as market leaders in their respective geographies. The two companies will be able to leverage shared resources and technology, as well as the advantages of a global footprint and significantly expanded scale.
